CapWealth Advisors LLC decreased its position in shares of Charles Schwab Co. (NYSE:SCHW) by 83.8% in the 3rd quarter, Holdings Channel reports. The firm owned 4,520 shares of the financial services provider’s stock after selling 23,450 shares during the quarter. CapWealth Advisors LLC’s holdings in Charles Schwab were worth $222,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Dupont Capital Management Corp raised its holdings in Charles Schwab by 14.8% during the 2nd quarter. Dupont Capital Management Corp now owns 21,139 shares of the financial services provider’s stock worth $1,080,000 after purchasing an additional 2,726 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Charles Schwab by 3.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 78,904 shares of the financial services provider’s stock worth $4,032,000 after purchasing an additional 2,640 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Charles Schwab by 4.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 74,489 shares of the financial services provider’s stock worth $3,806,000 after purchasing an additional 3,358 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Charles Schwab by 8,507.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,972 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 6,891 shares during the last quarter. Finally, Cognios Capital LLC bought a new stake in shares of Charles Schwab in the 2nd quarter valued at $950,000. Hedge funds and other institutional investors own 79.51% of the company’s stock.
In related news, EVP Terri R. Kallsen sold 4,913 shares of Charles Schwab stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $46.09, for a total value of $226,440.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan M. Craig sold 2,629 shares of Charles Schwab stock in a transaction on Monday, October 15th. The shares were sold at an average price of $48.84, for a total transaction of $128,400.36. The disclosure for this sale can be found here. In the last three months, insiders sold 411,366 shares of company stock valued at $19,333,819. 11.50% of the stock is currently owned by insiders.
NYSE:SCHW opened at $42.60 on Friday. Charles Schwab Co. has a twelve month low of $41.13 and a twelve month high of $60.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $58.08 billion, a PE ratio of 25.98, a P/E/G ratio of 1.07 and a beta of 1.45.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. Charles Schwab had a net margin of 32.65% and a return on equity of 19.02%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.42 EPS. Charles Schwab’s revenue was up 19.1% compared to the same quarter last year. Analysts forecast that Charles Schwab Co. will post 2.44 EPS for the current fiscal year.
Charles Schwab announced that its board has initiated a stock repurchase plan on Thursday, October 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, November 8th. Charles Schwab’s payout ratio is currently 31.71%.
Several analysts have recently weighed in on SCHW shares. Morgan Stanley set a $70.00 price objective on shares of Charles Schwab and gave the company a “buy” rating in a research note on Tuesday, September 18th. Credit Suisse Group lowered their price objective on shares of Charles Schwab from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Barclays lowered their price objective on shares of Charles Schwab from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, October 3rd. Finally, UBS Group lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating in a research note on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.94.
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Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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